Rango Energy Inc. has signed a Letter of Intent with Proco Operating Co., Inc., based in Graford, Texas for a 75% working Interest on approximately 6,000 acres located in the Ft. Worth Basin in North Central Texas.

Phase One Drilling of vertical and horizontal wells on leases totaling 1,280 acres to develop prospective Marble Falls and Barnett Shale formations is slated to commence within 45 days. The Marble Falls Limestone formation, the project's primary objective, is a 350 to 450 ft. thick early Pennsylvanian carbonate reservoir overlying the Barnett Shale.

In the past four years, the Marble Falls/Barnett combination oil and natural gas wells have been developed by major independent oil and natural gas companies drilling over 1,200 wells in the area utilizing the "slick water" fracturing methods first pioneered in the North Texas Area. These hydraulic fracturing methods have realized substantial initial production rates of light sweet crude oil and high BTU natural gas from depths between 4,500 and 5,000 ft. Geology experts have determined that the Marble Falls Formation covers approximately 1,500 square miles.

Tags: Rango Energy Inc.